Retail in Asia

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Vietnam growth quickens to 5.83pc, pointing to regional revival

Vietnam’s economic growth quickened to 5.83 percent in the first quarter compared with the same period last year, suggesting Asia may start to lead a revival in global expansion.

The figure released by the General Statistics Office in Hanoi on Tuesday was almost twice as fast as Vietnam’s 3.14 percent expansion in the same period last year. Growth accelerated throughout 2009, culminating in a 6.9 percent fourth-quarter pace that resulted in a 5.3 percent full-year expansion. The government is targeting 6.5 percent growth this year.